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Scar Treatment Market Set to Surge Significantly During 2017-2025
Persistence Market Research (PMR) delivers key insights and presents a revised forecast of the global scar treatment market for an eight year period from 2017 to 2025 in the report titled “Scar Treatment Market: Global Industry Analysis 2012–2016 and Forecast 2017–2025.” The revision in the market size and forecasts have been carried out taking into account the impact of various macroeconomic indicators and other industry-based demand-driving factors, as well as the recent developments of key market participants.
The global scar treatment market is projected to expand at a healthy CAGR of 3.9 % in terms of value during the forecast period, revised from the previous CAGR of 3.8%, due to factors regarding which PMR offers useful insights in detail in this report.
The prime drivers for the market include availability of attractive reimbursement facilities in developed markets and rising incidences of atrophic scars (primarily acne) in developing markets, primarily due to rapidly changing food habits and lifestyles. Furthermore, growing adoption of combination therapeutics is another factor expected to drive demand for various combinations of scar treatment product and treatments over the forecast period. Currently, there are no formalized guidelines for treatment of scars.
All treatments are done on a best-effort basis, guided mostly through word-of-mouth by expert clinicians and surgeons. However, efforts are underway to formalize treatment guidelines at least for common scars. In this regard, under the U.K. government’s cosmetic intervention guidelines, patient and patient parties need access to independent and evidence-based information to form their decisions. Many of these scar treatment and aesthetic beautification procedures are considered similar to ‘consumer goods’ by both the purchaser and provider. A change in this perspective could help boost manufacturers and service provider’s potential revenue base.
Barriers to the market include fragmented documented clinical evidences for popular topical products such as onion extract gels (containing silicone). This hampers the product uptake by the educated section of the patient base in both developed and developing countries. Other barriers include psychological issues such as fear of side-effects and consideration of scar treatment as a non-necessary expenditure item in the overall consumption basket. Even some of the well-known regulatory agencies do not accept scar treatments as medically necessary as they mostly are not life-changing in nature.
Based on region, the market has been divided into North America, Latin America, Europe, Asia Pacific, and the MEA. Developed pharmaceutical markets such as the U.S. and EU are expected to emerge as the main markets for scar treatment products over the forecast period, while markets in Brazil and Central Asia are expected to witness growing adoption of laser treatments due to booming medical tourism and aesthetic corrective procedures in these regions. Increasing involvement of patients in treatment formulation processes is an important attribute being adopted by reputed physicians as it could lead to a marked improvement in adherence levels of prescribed treatments and increase treatment effectiveness.
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This report assesses the market trends, by product, scar type, end user and region, to offer analytical insights about the potential emerging demand for particular scar treatments in specific regions. North America is estimated to dominate the scar treatment market over the forecast period, accounting for maximum revenue share of the overall market by the end of 2015. Markets in Latin America and APAC region are estimated to expand at the most significant CAGR over the forecast period.
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To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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